Lending to businesses edged up for the first time since February, the latest Bank of England figures showed. Net lending to businesses grew £300m in August, a modest improvement after July’s £2.5bn drop, according to the Bank’s monthly Trends in Lending report. However lending to businesses was still down year-on-year, contracting 5.4pc Credit availability for [...]
Debt advice groups are calling for urgent action over payday loans that charge extremely high interest rates. They want the market regulator to make lenders behave responsibly, as some companies have lent money at a rate equivalent to almost 2,000% annually. Payday loans typically involve a lender advancing a customer cash, usually for a month, [...]
your child about to embark on a journey into the great unknown, or are they merely flying the coop to start at university? Faith Glasgow helps parents plan for the financial burden facing their studious offspring. Is The summer is drawing to a close and a new tranche of students is about to head off [...]
Millions of people who are still paying off their student loans will be worse off this year, as the Student Loans Company is raising the interest rates on their borrowing. Both those who took out loans before 1998 and those whose loans date from after that period will now pay interest on their balances, after [...]
More than one million home owners on an interest-only deal face a sharp price rise when their current deal expires. Banks and building societies are increasingly nervous about offering these deals to borrowers, ahead of new lending rules, designed to curb excessive lending. Coventry Building Society has become the latest mortgage lender to stop offering [...]
Home owners have so little equity left in the homes after the credit crisis that they are struggling to remortgage, experts warned. The latest lending statistics suggested the number of people who remortgaged their homes in June was just 27,000, down 20 per cent on a year earlier. Ed Stansfield, chief property economist at Capital [...]
A third of all properties for sale have seen their prices reduced amid an uncertain outlook for the housing market, a new survey suggests. The properties have seen their values cut at least once since they were first listed on the market, according to the survey by property website Zoopla. The highest average price reductions [...]
The Bangladeshi anti-poverty banker Muhammad Yunus is to feature in an episode of hit TV cartoon The Simpsons. Yunus, whose pioneering work on micro-finance earned him the Nobel Peace Prize in 2006, will appear in the TV show as a cartoon version of himself. The episode will focus on his micro-credit work in Bangladesh, which [...]
Thousands of mortgage holders are facing huge rises in their monthly repayments thanks to a banking error. Customers of the Yorkshire and Clydesdale banks have been left with a shortfall on their variable-rate mortgages after the bank miscalculated their monthly repayments. The bank said 18,000 customers had paid less than the contractual minimum monthly repayments [...]
Student loans seem to be the only feasible way out to pursue higher studies for the average student in UK. Things become all the more difficult for those without university funding. The government, in its efforts to make further education affordable, had undertaken quite a few steps to buffer educational finance. A significant step towards [...]
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